Edelweiss Financial Services Limited, IIFL Holdings Limited and SBI Capital Markets Limited are the Book Running Lead Managers (BRLMs) to the issue. IDBI Capital Markets & Securities Limited is the Co-Book Running Lead Managers to the issue.
The equity shares will be listed on BSE and NSE.
The IPO Initial Public Offering (IPO) comprises equity shares of face value of Rs10 each (the “equity shares”) of Bajaj Energy Limited (the “Company”) aggregating up to Rs5,450cr (the “Offer”) comprising a fresh issue of up to Rs5,150cr by the Company (the “Fresh Issue”) and an offer for sale of equity shares by Bajaj Power Ventures Private Limited aggregating up to Rs300cr (the “Promoter Selling Shareholder” and such offer, the “Offer for Sale”).
The Net Proceeds from the Fresh Issue are proposed to be utilised towards (i) Purchase of 6.99cr equity shares of face value of Rs10 each of LPGCL (“LPGCL Shares”) from BPVPL and BHSL (Rs4972cr); and (ii) for general corporate purposes.
BEL has a track record of developing, financing and operating thermal power plants in India. They have a total gross installed capacity of 2,430 MW, comprising 450 MW from five operational plants of 90 MW each, owned and managed by BEL (the "BEL Power Plants") and 1,980 MW from the power plant owned and managed by LPGCL (the "LPGCL Power Plant"), which BEL intend to wholly acquire from the proceeds of the Offer (the "LPGCL Acquisition").